23 January 2025 Spanish parliament approves suspension of the Golden Visa program for investors The Spanish parliament recently approved a proposal to suspend the Golden Visa program for foreign investors with effect from 3 April 2025. Spain launched its Golden Visa residence scheme for investors in 2013. Golden Visas allow individuals who make qualifying investments in eligible Spanish companies, venture capital funds, real estate or business projects (among others) to reside and work in the country for up to three years, with the possibility of extending their period of authorized stay. In April 2024, the government announced its intention to stop issuing Golden Visas in order to guarantee housing for Spanish citizens and address rising property prices. In this regard, the government submitted a proposal to the parliament in November 2024. A Tax Alert prepared by EY's People Advisory Services, and attached below, provides additional details. Document ID: 2025-0302 |